![]() This means finding a place where the flood map is publicly available. If you do choose to move forward with a property on the water, it’s important that the flood risk has been disclosed upfront so you can do all you can to minimize the risk or prevent damages should flooding occur. When choosing your property, be aware that selecting a place near a body of water may add an aesthetic element to your business but will also add a liability, as it increases your flood risk. These categories are minimal, minor, moderate, major, severe or extreme. ![]() Once this risk is determined, it’s compared to areas with equivalent geographies before being broken down into a category of risk. To determine your area’s proportion of commercial properties at risk, you would look at the number of commercial properties at risk in an area and compare that to all the properties in that location. How Does Flood Zone Affect Property Value?ĭetermining the flood risk for your commercial property lets you best prepare logistically and financially for a potential flood. These products specifically enhance your risk and vulnerability assessment to help determine how to use certain pieces of land or go about developing communities. Risk MAP has Flood Risk Products, including maps, reports and databases that can supplement your flood risk management and allow you to create the best hazard mitigation strategies for your area. Risk MAP provides data, builds partnerships and allows for long-term hazard mitigation planning. Risk Mapping, Assessment and Planning (MAP) ![]() This will allow you to see your area’s risk for flooding and give you access to other tools you need to be prepared for flooding. You can find your area’s flood map by going to the FEMA Flood Map Service Center (MSC). ![]() If nothing else, you can be prepared in the property you are in, knowing what the risk of flooding is. This involves making infrastructure improvements to areas that need it as well as developing their area in the safest way possible.Ĭommercial property owners can use flood maps to determine where the safest place would be to build or buy a property. Community leaders use flood maps to develop plans for emergency flood scenarios and implement policies to reduce risk based on a realistic expectation of how high the flood threat is. Mortgage lenders use flood maps to determine their insurance requirements. Flood Mapsįlood maps are one of the ways commercial property owners can know how high their flood risk is. The Federal Emergency Management Agency (FEMA) has created resources to help understand flood risk in different areas through flood maps and risk assessments. Though we can’t always predict exactly when or where a flood will occur or how severe it will be, there are factors that can help you understand your risk for flooding so you can put protective measures in place. Flood risk also goes through changes due to community development and weather changes. ![]() There are a lot of factors that go into determining your flood risk, as floods are difficult to predict. Your property’s flood risk is not just dependent on how close you are to a body of water or how often it rains. Not advising you one way or the other, I live in a flood zone myself and it's not terrible, you just have to keep these things I mind.Contact URI Experts Today Understanding Flood Risk This is probably tens of thousands of dollars of extra costs to keep in mind. In some cases this means jacking the house up on piles, so that it is less low lying. In recent years, FEMA has forced people that are substantially improving their properties (ie adding a bedroom, adding an addition, repairing a foundation, etc) to build to more preventative flood standards. Floods here don't happen often, but when they do they are destructive.Īlot of the infrastructure in flood zones is old and built in a way that would get significantly damaged by floods, and flood insurance (not terribly expensive) will help you rebuild your house if a flood does strike. With that much of the state built in a flood zone, it can be unescapable. Not really a great think to be in a flood zone, but in some states like Rhode Island where I live, a good 30%+ of the state is built in a flood zone (many of the urban areas are low-lying and on the coast). ![]()
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